Wakefield, Massachusetts Development News

Wakefield Affordable Housing Trust Outlines Initiatives and Future Plans

The Wakefield Affordable Housing Trust presented an update on its initiatives and the housing production plan. The trust, established in 2022, aims to provide affordable housing by collecting and deploying funds for local initiatives. Current initiatives include the potential for a fee-in-lieu amendment to inclusionary zoning, the development of the Wakefield Rental Assistance Program (WRAP), and exploring the Butler Avenue property for affordable housing. The trust currently holds $760,000 from previous affordable unit conversions and received $200,000 in ARPA funds. The presentation also highlighted the need for affordable housing for essential workers and addressed state policies impacting local control over development. The housing production plan is being implemented through zoning bylaw language development, potentially incorporating form-based codes. The town is also seeking to maintain its Housing Choice Community designation and has joined a regional housing services office. A proposed amendment to inclusionary zoning would allow developers to pay a fee in lieu of creating affordable units for fractional units, generating revenue for the trust while potentially impacting the subsidized housing inventory. The trust aims to maintain a 10% affordable housing inventory. Discussions also covered the Butler Avenue property and the possibility of using trust funds for affordable housing development there. The presentation emphasized the importance of local action in housing development and navigating state-imposed regulations.